Payroll is an important document that is used by organizations to perform day-to- day staff management activities, which contains a list of all the employees of a company who receive remuneration of work carried out or services offered to the organization. It provides a summary of the entire money paid to staff by an organization within a specific time. Generally, a payroll contains the following key information about the organization:

The primary function of payroll is to assist an organization in timely payment of staff wages and salaries. It also helps with other essential activities, such as income tax, unemployment tax, and social security. It is important for an organization to have integrated payroll management software, which has the ability to streamline payroll processes, for compliance, and improving tax filing as well as securing the payroll system.

Payroll Key Functions

  • Remuneration strategy, which may include bonuses, leaves, and deductions.
  • Detailed pay-slip, which can be used for various uses. It also provides a detailed breakdown of salary or wage.
  • Information used for paying salaries or wages.
  • Information used to collate payroll-related inputs.
  • Information used to determine actual remuneration.

At BINSTOPEJ, we have the Expertise in payroll administration with great wealth of knowledge with the ability to manage your payroll as well as advising you on:

  • On software providers who are Reputable and Trustworthy.
  • Vendors who will provide a software solution which has maximum security.
  • A software which has an in-built growth mechanism that allows growth when an organization expands.
  • A software that will provide reports and backup especially when there is need to correct any error.
  • Compatibility of the software which is able to work with other systems .